LETTER AGREEMENTJoint Exploration Agreement • October 13th, 2006 • EnerJex Resources, Inc. • Plastics products, nec
This Agreement dated September 26th, 2006, and having an effective date of September 26th, 2006, is made by and between MorMeg, LLC, a Kansas limited liability company, referred to herein as “MorMeg”, and EnerJex Resources, Inc., a Nevada corporation, referred to herein as ”EnerJex”. MorMeg and EnerJex are jointly referred to herein as “the parties”. It is the desire of the parties to enter into this Letter Agreement (agreement) to define the terms of an option to participate in a joint exploration effort in Woodson and Greenwood Counties, Kansas, and to agree to certain major terms of a “Joint Exploration Agreement” that the parties envision will be required to govern the joint exploration project subsequent to the option herein described being exercised. To this end, the parties agree to the following recitals:
